Faster Payments is a speedy payment method that allows residents of the United Kingdom to send payments in their local currency without incurring any additional exchange charges. Apple Pay and Google Pay are the quickest ways to buy BNB with a credit or a debit card from your iOS or Android device. Open your crypto wallet and welcome your newly purchased cryptocurrency. To buy BNB, open an account with a trading platform like eToro, Binance, or OKX. The Binance Launchpad introduces new tokens before they hit other major exchanges. Stake your BNB to earn crypto for projects that might be the next big thing.
This guide selected platforms such as Coinbase, Kraken, OKX, KuCoin, YouHodler, and Bybit as the best options to buy BNB. The platforms were chosen thanks to their varied services and solid security offerings and tested over a period of six months. If this is your first time using Binance to buy crypto, you will be required to add a credit or debit card to your account.
- Not all crypto exchanges offer BNB trading, so do some homework to find a cryptocurrency exchange that does.
- Most commonly, you can sell BNB on cryptocurrency exchanges where the asset is listed.
- EToro supports deposits in USD, as well as debit cards and PayPal deposits.
- That option can help you save on costs, but these exchanges are typically more complicated to navigate.
- Holding the private keys gives you access to your crypto, like holding a pin code to your debit card; in short it gives you access to your funds.
From the Binance home page, hover over the [Buy Crypto] link on the top navigation bar, then select the [Credit/Debit Card] option from the drop-down list. Given the volatility of cryptocurrencies like BNB, there are some factors to consider before making an investment. Many or all of the products featured here are from our partners who compensate us.
You can then click on the ‘Continue’ button after selecting your payment method and make the payment. One unique feature that BNB has that most other major cryptocurrencies do not is its finite number of coins, all created at the time of the token sale. Following the success of the trading platform, Binance opted to launch a new blockchain similar to Bitcoin or Ethereum dubbed ripple price slumps after 7 5% flash crash in btcusd the Binance Chain. In the Binance ecosystem, another digital asset exists called the Binance Dollar or Binance USD (BUSD). Even though they are both issued by the Binance crypto exchange, they are fundamentally distinct and serve different functions. However, you will be required to sign up for a third-party service through which the credit card payment will be processed.
BNB may have been created as an incentive for the token sale, but since its launch in mid-2017, the token has evolved and grown to take up more roles. It has many more uses than just offering discount benefits to its holders. This guide was all about BNB and how to acquire this highly versatile asset. We highlighted two easy ways to buy it, which are using the Binance exchange or using a mobile wallet such as Trust Wallet. The most significant benefit of using Trust Wallet is that it is available to anyone worldwide, even in jurisdictions where Binance is restricted or banned.
Where can I buy $1 BNB?
The plan represented a graduated scale with a larger discount offered in the first year of operation and less in the fourth year. BNB was initially created to serve as a utility token within the Binance exchange. The ICO was held within three weeks, starting on July 1st and ending on the 21st. According to ICO documents, the BNB tokens were scheduled for sale in three phases, each lasting a week.
After installing, you will be prompted to either recover a previous wallet or create a new one. At this stage, you will have to back up the private keys to your wallet in the form of random words. According to the whitepaper, the exchange would use 20% of quarterly profits to buy back outstanding tokens and burn them. So far, the exchange has undertaken 16 coin burns resulting in the removal of 31,862,964 BNB tokens from circulation. The fewer coins there are in circulation, the higher their perceived value, which will increase their demand and consequently their price.
Where to Buy BNB? The Top Exchanges
However, there are a few things that you should keep in mind before investing. Click on “Buy Crypto” on YouHodler to see available options for buying BNB. KuCoin proved to be an excellent choice for purchasing BNB for our team members spread across the globe.
There are also other options here, such as receiving or sending BNB. You then have to create a new wallet or recover an already existing wallet using the backup phrase. If you create a new wallet, ensure you backup your recovery phrase by writing it down on a piece of paper and keeping the paper in a safe place. Binance will prompt you to provide the second-factor authentication code as a confirmation of your identity.
Most notably Binance, but you can also buy BNB at Bybit and YouHodler. As far as decentralized exchanges, you can buy BNB on Uniswap or PancakeSwap. Moreover, the BNB chain also has allegations of not being a “blockchain” at all. While the BNB coin does have impressive price performance, the Binance name attached to the crypto is not enough to overlook the high-risk concerns of the blockchain. Once you’ve entered the required details, they’ll prompt you to undergo the Know Your Customer (KYC) verification.
The benefits of buying BNB through Trust Wallet are that it’s fast and more convenient. Typically, if you buy crypto from an exchange, you will need to move it to a wallet, but if you buy BNB on Trust Wallet, you do not have to send it anywhere else. Once you select the corresponding assets, fill in the amount you want to transact. You can specify the amount you want to buy in either USD or BNB. Click the crypto icon in the [Receive] tab to open a selection window. It’s vital to distinguish between the two tokens since they’re often confused.
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Binance no longer supports the ERC-20 version based on the Ethereum blockchain, and all holders of this version are advised to swap it for either of the other two. Although BNB is popular, think carefully before investing your money in the token—or any cryptocurrency. Cryptocurrencies can be volatile, with steep price increases and decreases. Set an investing how to add a trusted device budget for yourself and only risk money you don’t need for essential expenses. To buy cryptocurrency, you first need an account with a cryptocurrency exchange—a platform that facilitates crypto trades. As a native token for the largest crypto ecosystem, BNB is an extremely sought-after asset that is worth including in a crypto investment portfolio.
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All of the information that a crypto investor would need before buying their first BNB coins. Binance is one of the top cryptocurrency exchanges in the world, facilitating 1.4 million transactions per second. Binance Coin (BNB) is the exchange’s native token, which is currently the fifth-largest crypto by market cap. To trade Binance Coin (BNB) back for cash, you can use the same avenues used for buying cryptocurrencies. Most commonly, you can sell BNB on cryptocurrency exchanges where the asset is listed.
OTC trading involves direct transactions between buyers and sellers, typically facilitated by a broker. OTC desks and services enable you to purchase BNB with cash, often for larger amounts. BNB is the cryptocurrency asset that fuels the entire BNB Chain ecosystem. It is one of the most used utility tokens in the world, and its capabilities are not limited to mere trading.
Binance Chain is a decentralized blockchain network primarily designed for token issuance and trading. It provides a high-performance platform for creating and transferring digital assets. Binance Coin (BNB) initially existed on Binance Chain and played a crucial role as the native cryptocurrency within that ecosystem. BNB was used for paying transaction fees, participating in token sales, and powering other functionalities on the Binance blockchain. Binance Smart Chain (BSC), on the other hand, is an extension of the Binance Chain blockchain network that focuses on decentralized finance (DeFi) capabilities. BSC supports the creation and execution of smart contracts, enabling the development of decentralized applications (DApps) and decentralized exchanges (DEXs).